Quarterly report pursuant to Section 13 or 15(d)

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (2,375,801) $ (1,745,284)
Less: net loss from discontinued operations 491,763
Net loss from continuing operations (2,375,801) (1,253,521)
Adjustments to reconcile net loss to net cash used in operating activities:    
Derivative liability movements (278,611) (862,413)
Depreciation 4,167
Amortization of debt discount 373,178 1,012,537
Investment impairment charge 1,019,960
Loss on conversion of debt to equity 150,274 554,558
Loss on settlement of liabilities 50,082
Convertible notes issued for services 4,423
Shares issued for services 43,500
Stock based compensation 464,596 162,254
Amortization of right of use asset 14,342
Changes in Assets and Liabilities    
Other current assets 38,993 (1,425)
Accounts payable and accrued expenses 184,635 (97,892)
Operating lease liabilities (14,342)
Interest accruals 51,055 190,785
Cash used in operating activities - continuing operations (273,972) (290,694)
Cash used in operating activities - discontinued operations (160,655)
CASH USED IN OPERATING ACTIVITIES (273,972) (451,349)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Plant and equipment purchased (50,000)
Net cash used in investing activities - continuing operations (50,000)
Net cash used in investing activities - discontinued operations (1,272)
NET CASH USED IN INVESTING ACTIVITIES (50,000) (1,272)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from share issuances 33,000
Proceeds from loans payable 125,000
Repayment of loans payable (20,000)
Repayment of convertible notes (48,000)
Proceeds from short term notes and convertible notes 296,250 267,000
Proceeds from federal relief funds 60,292
NET CASH PROVIDED BY FINANCING ACTIVITIES 321,542 392,000
Effect of exchange rate changes on cash and cash equivalents (1,054)
NET DECREASE IN CASH (2,430) (59,567)
CASH AT BEGINNING OF PERIOD 2,979 71,294
CASH AT END OF PERIOD 549 11,727
CASH PAID FOR INTEREST AND TAXES:    
Cash paid for income taxes
Cash paid for interest 33,030
NON CASH INVESTING AND FINANCING ACTIVITIES    
Recognition of right of use lease 86,741
Conversion of convertible debt to equity 261,601 1,049,893
Settlement of liabilities with equity $ 100,164